GBPUSD - possible bullish H&S pattern being created - 12 to 1
Updated
hello all. DuncanForex here with another trade idea
I am bullish GBP and on the weekly chart last week it printed a nice bullish engulfing candle.
This lined up with a weakening dollar is the ideal pair to trade.
I think on the 4 hour chart - we are just creating the right shoulder of a head and shoulder pattern.
If it gets to the 61.8% retrace and there is a bullish candle printed in the area - then I am in with multiple entries looking to ride it up to the top. and exit at stages on the way.
Price is currently sat at a strong support level, however if it breaks through, I do expect it to bounce here and ultimately go long
thanks for looking
Duncan
I am bullish GBP and on the weekly chart last week it printed a nice bullish engulfing candle.
This lined up with a weakening dollar is the ideal pair to trade.
I think on the 4 hour chart - we are just creating the right shoulder of a head and shoulder pattern.
If it gets to the 61.8% retrace and there is a bullish candle printed in the area - then I am in with multiple entries looking to ride it up to the top. and exit at stages on the way.
Price is currently sat at a strong support level, however if it breaks through, I do expect it to bounce here and ultimately go long
thanks for looking
Duncan
Trade active
HI all - trades have just activated at the 61.8% retrace at 1.2615
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